Indian Overseas Bank
Indian Overseas Bank (IOB) is an Indian public sector bank based in Chennai. During the nationalisation, IOB was one of the 14 major banks taken over by the government of India. On 5 December 2021, IOB got Degidhan Award 2020–21 by Ministry of Electronics & Information Technology for achieving second highest percentage of digital payment transaction among public sector banks. As on 31 March 2022, IOB's total business stands at ₹417,960 crore (US$52 billion). It has about 3,220 domestic branches, 2 DBUs ( Digital Banking Unit) about 4 foreign branches and representative office. Founded in February 1937 by M. Ct. M. Chidambaram Chettyar with twin objectives of specializing in FOREX and overseas banking.
Logo of the Bank | |
An Indian Overseas Bank branch in Lemalle, Andhra Pradesh | |
| Company type | Public |
|---|---|
Traded as | BSE: 532388 NSE: IOB |
| Industry | Banking, Financial services |
| Founded | 10 February 1937 |
| Founder | M. Ct. M. Chidambaram Chettyar |
| Headquarters | Chennai, Tamil Nadu, India |
Number of locations | 3218 - Branches & 3270 ATM |
Key people |
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| Products | Consumer Banking Corporate Banking Finance and Insurance housing|MSME| Home Loan|Vehicle Loan|Education Loan|mortgage loan|Mortgage Loans Investment banking Merchant banking Private equity Private banking Savings wealth management Credit cards |
| Revenue | ₹22,422.91 crore (US$2.8 billion) (2021) |
| ₹5,840.81 crore (US$730 million) (2021) | |
Net income | ₹2,098.79 crore (US$260 million) (2023) |
| Total assets | ₹313,745.82 crore (US$39 billion) (2023) |
| Owner | Government of India |
Number of employees | 23,579 (2021) |
| Capital ratio | 10.32% (2021) |
| Website | www |
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